Tata Motors hits over 5-year low; stock falls 41% in 2018 on JLR concerns

The stock dipped 5% to Rs 253 in intra-day trade after the CEO of JLR reportedly warned that a hard Brexit would cost 1.2 billion pounds.

Shares of Tata Motors hit an over five-year low of Rs 253 per share, down 5% in intra-day trade, after the CEO of company owned Jaguar Land Rover (JLR), Britain’s biggest carmaker, reportedly warned that a hard Brexit would cost 1.2 billion pounds a year.  The stock was trading at its lowest level since April 8, 2013 on the BSE.

“Extra costs and delays in parts deliveries coming from outside the U.K. would cut profit by 1.2 billion pounds a year, Ralf Speth, chief executive officer of the manufacturer owned by Tata Motors Ltd., said late Wednesday in an